Divestiture • Information Technology

smartTrade Technologies Acquires kACE

On December 11, 2025, smartTrade Technologies acquired information technology company kACE from BGC for 119M USD

Acquisition Context
  • This is smartTrade Technologies’ 1st transaction in the Information Technology sector.
  • This is smartTrade Technologies’ largest (disclosed) transaction.
  • This is smartTrade Technologies’ 1st transaction in the United Kingdom.

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M&A Deal Summary

Date December 11, 2025
Target kACE
Sector Information Technology
Buyer(s) smartTrade Technologies
Sellers(s) BGC
Deal Type Divestiture
Deal Value 119M USD

Target Company

kACE

London, United Kingdom
kACE is a financial-technology company that builds workflow, pricing, analytics, and connectivity solutions for the global foreign exchange (FX) and interest-rate derivatives markets, covering the full trade lifecycle from pre-trade analytics and real-time price distribution to execution and post-trade analysis. Its platforms and APIs are designed to integrate into institutional trading and risk-management systems to help banks, brokers, and other financial firms manage FX options, linear FX/rates pricing, and market-data workflows. kACE is based in London.
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Buyer Overview 1

Buyer

smartTrade Technologies

Aix-en-Provence, France

Category Company
Founded 1999
Sector Software
DESCRIPTION

smartTrade Technologies is an automated trading platform that enables fast access to a wide range of liquidity for Foreign Exchange (FX), Fixed Income, Equities, Cryptocurrencies, and Derivatives. These solutions connect to numerous liquidity providers, aggregation, smart order routing, order management, pricing, distribution, risk management capabilities, and an HTML5 user interface. smartTrade Technologies was formed in 1999 and is based in Aix-en-Provence, France.


Deal Context for Buyer #
Overall 1 of 1
Sector: Information Technology 1 of 1
Type: Divestiture 1 of 1
Country: United Kingdom 1 of 1
Year: 2025 1 of 1
Size (of disclosed) 1 of 1

Seller Profile 1

SELLER

BGC

New York, New York, United States

Category Company
Founded 1945
Sector Financial Services
Employees3,971
Revenue 2.2B USD (2024)
DESCRIPTION

BGC is a global brokerage company primarily servicing the wholesale financial and real estate markets. Products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a broad range of financial and non-financial institutions. BGC was incorporated in 1945 and is based in New York, New York.


Deal Context for Seller #
Overall 5 of 5
Sector: Information Technology 1 of 1
Type: Divestiture 3 of 3
Country: United Kingdom 3 of 3
Year: 2025 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-06 Macro Hive

London, United Kingdom

Macro Hive is an independent provider of global macro research and strategy. The company's worldwide user base spans 160 countries and over 1,000 institutions, with clients including 7 of the top 10 largest banks and the top 5 macro and multi-strategy hedge funds, as ranked by Bloomberg. It gives retail and institutional investors a trusted platform to discover the best investment opportunities in an accessible and concise format. Macro Hive is based in London.

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